Natixis Advisors LLC Buys 14,502 Shares of Elevance Health, Inc. (NYSE:ELV)

Natixis Advisors LLC increased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 8.2% in the third quarter, Holdings Channel.com reports. The fund owned 192,096 shares of the company’s stock after purchasing an additional 14,502 shares during the period. Natixis Advisors LLC’s holdings in Elevance Health were worth $99,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ELV. Mizuho Securities USA LLC boosted its stake in Elevance Health by 185.4% during the third quarter. Mizuho Securities USA LLC now owns 51,153 shares of the company’s stock valued at $26,600,000 after buying an additional 33,231 shares during the last quarter. Simplify Asset Management Inc. boosted its position in shares of Elevance Health by 67.3% during the 3rd quarter. Simplify Asset Management Inc. now owns 8,762 shares of the company’s stock valued at $4,556,000 after acquiring an additional 3,526 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Elevance Health by 24.9% in the third quarter. Empowered Funds LLC now owns 41,965 shares of the company’s stock valued at $21,822,000 after purchasing an additional 8,379 shares in the last quarter. Empirical Finance LLC increased its position in Elevance Health by 2.0% in the third quarter. Empirical Finance LLC now owns 9,327 shares of the company’s stock worth $4,850,000 after purchasing an additional 180 shares during the last quarter. Finally, First Business Financial Services Inc. raised its stake in Elevance Health by 6.0% during the third quarter. First Business Financial Services Inc. now owns 2,635 shares of the company’s stock valued at $1,370,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $400.69 on Friday. Elevance Health, Inc. has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $475.29 and a two-hundred day simple moving average of $513.52. The stock has a market capitalization of $92.93 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.22 and a beta of 0.85.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $8.99 earnings per share. On average, analysts predict that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, December 5th. Elevance Health’s payout ratio is 23.77%.

Analyst Ratings Changes

Several analysts have recently issued reports on ELV shares. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. UBS Group cut their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Cantor Fitzgerald cut their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $539.20.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.